Business & Finance News
U.S. stocks recovered from a brutal two-day selloff on Wednesday as strong earnings from Foot Locker and gains in technology stocks lifted investor sentiment ahead of the Thanksgiving holiday.
Abu Dhabi’s International Petroleum Investment Co (IPIC) said in a statement on Wednesday it had filed a lawsuit against U.S. investment bank Goldman Sachs and others to recover losses incurred due to the Malaysian state fund 1MDB.
Europe’s biggest low cost airline Ryanair is not seeing any impact from Brexit on demand for flights, and is prepared for a no-deal, chief marketing officer Kenny Jacobs said.
LATAM Airlines , the biggest airline group in Latin America, reported a steep fall in third-quarter profit due to lower passenger demand in Argentina and Brazil as well as higher fuel prices and competition from low-cost airlines.
U.S. borrowers filed the fewest applications for home refinancing in almost 18 years last week even as mortgage rates drifted lower in step with U.S. bond yields, the Mortgage Bankers Association said on Wednesday.
China accused the United States of hypocrisy and making false claims at a World Trade Organization meeting on Wednesday, after Washington triggered litigation against China over steel tariffs and intellectual property protection.
Foot Locker shares jumped 20 percent on Wednesday after third-quarter results showed shoe sales turning back to growth thanks to a boost from Nike’s latest lines, heading off fears it was losing out to Amazon and other online stores.
New orders for key U.S.-made capital goods were unexpectedly unchanged in October and shipments rebounded modestly, which could temper expectations of an acceleration in business spending on equipment early in the fourth quarter.
Wall Street was set to claw back some of the losses from a brutal two-day selloff on Wednesday as Apple Inc and other major technology stocks regained a foothold and oil prices steadied.
Lloyd’s of London said https://www.lloyds.com/news-and-risk-insight/press-releases/2018/11/shirine-khoury-haq-to-leave-lloyds on Wednesday its Chief Operating Officer Shirine Khoury-Haq is stepping down, the third big change this year at the insurance market that covers risks from oil rigs to soccer stars’ legs.
Apple Inc’s biggest iPhone assembler Foxconn aims to cut 20 billion yuan ($2.88 billion) from expenses in 2019 as the company faces “a very difficult and competitive year”, Bloomberg reported on Wednesday, citing an internal memo.
The number of Americans filing applications for jobless benefits rose to more than a four-month high last week, but the underlying trend remained consistent with a tightening labor market.
Germany’s BMW plans to launch ride-hailing services in China in December, the first global automaker to obtain such a license in the fast-growing market.
U.S. borrowers filed the fewest applications for home refinancing in about 18 years last week even as mortgage rates drifted lower in step with U.S. bond yields, the Mortgage Bankers Association said on Wednesday.
U.S. stock futures rose on Wednesday, after a brutal two-day selloff pushed the S&P 500 and the Dow Jones Industrial Average in the red for the year.
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